KUFPEC Eyes Expansions in Indonesia's Natuna Gas Opportunities

Kuwait Foreign Petroleum Exploration Company (KUFPEC) is exploring further oil and gas opportunities in Indonesia's Natuna Sea. Indonesian President Prabowo Subianto aims to increase domestic production. KUFPEC has operations in the Natuna Sea and is studying the Natuna D-Alpha gas block, despite high CO2 content challenges.

Kuwait Foreign Petroleum Exploration Company (KUFPEC) is actively seeking new oil and gas opportunities in Indonesia's Natuna Sea, according to its country representative. This move aligns with Indonesian President Prabowo Subianto's agenda to boost local production and reduce reliance on imports.

KUFPEC, already engaged in the Natuna Sea with interests in Natuna Block A and Anambas Block, plans to expand its operations. Sara Al-Baker, Indonesian country manager, mentioned that a study on the Natuna D-Alpha block is currently underway, which, despite its high CO2 content, holds immense potential.

Al-Baker also highlighted recent government efforts to offer better contracts, a necessary step to attract investors facing significant challenges, including aging infrastructure and competition from renewables. Indonesia, once an OPEC member, is now a net importer of oil due to aging wells and investment issues.

(With inputs from agencies.)